Italtile manages to increase sales despite weak economy
Italtile chair Giovanni Ravazzotti says challenges will continue unless consumers’ disposable incomes improve
Tile and sanitaryware manufacturer Italtile said on Tuesday weak trading conditions persisted in the first five months of its financial year as consumers took strain from the weak economy. The poor economic conditions, the price sensitivity of consumers, increased competition and low consumer discretionary spend typically exert pressure on Italtile’s margins. The owner of the Italtile Retail, CTM and TopT brands in September said that its sales would be constrained in the current financial year. In a sales update, Italtile said total retail store turnover in the first five months of the year increased 7%, compared with the previous corresponding period. Retail store turnover is the aggregate turnover of all stores, either corporate or franchised, in the group’s retail network. Manufacturing sales for the review period grew 7.6%. Manufacturing sales refer to sales related to Ceramic Industries, the tile and bathroomware manufacturer in which Italtile holds a 96.47% interest and Ezee ...
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